Connect

New Search X

Market Watch

Monday, May 7th, 2018 at 4:43pm Engel & Völkers Naples-Bonita-Estero

First Quarter Finishes Strong in Naples!

Led by a significant increase in both pending and closed sales in the $1M-$2m and $2M+ markets for both Single Family and Condo residences, the Naples Market finished a strong 1st Quarter. Median prices increased from the 1st Quarter of 2017 by 9% Overall and 4% in the over $500K price range. Year over year Median Prices increased 6% yet only 1% for residences selling over $500k. Condo closed Sales experienced a healthy 10% increase versus a 1% decrease for Single Family Homes from 1st Quarter of 2017. Overall inventory was down 4% over last year. There are reasonable levels in all price classes with healthy reductions in the $1M+ price ranges. Please review the chart below to see the variations by price levels. Overall, we look forward to another good summer season with workable inventory levels and stable pricing for the majority of ranges in both Single Family and Condo Residences.


 

First Quarter Shows Healthy Increases in the Bonita Estero Market!


The First Quarter finished with a 17% increase in overall Pending Sales and a 14% increase in closed sales. Condo closed sales surged 27% to 296 units while Single Family sales fell by 5%. Median prices remained stable with a 3% drop to $290K. The Overall inventory levels increased 9% to 1,256 units indicating a good range of choices for summer buyers who have turned out in increasing numbers in 2016 and 2017. The stage is set for a great selling season!

by Jeff Jones, Managing Broker

Leave a Comment